What is the Stroh Ranch Master Association?

The Stroh Ranch Master Association is a corporation formed under the laws of the State of Colorado for the purpose of maintaining common areas (as may be owned by the Association), providing a mechanism for the architectural protection and covenant enforcement, and for conducting the related administrative and accounting functions.

How is a Homeowners Association formed?

A Homeowners Association is formed prior to anyone buying a home in a development by the Declarant. The Declarant records the Declaration of covenants, conditions and Restrictions on the land and files Articles of Incorporation with the Secretary of State. Thus, the Association is set up and the lots are incumbered prior to any purchase by a homeowner.

Who is a Declarant?

The Declarant is the party who files the legal documents and is defined in them. The Declarant at Stroh Ranch is Stroh Ranch Development Limited Partnership.

What is the Cherry Creek South Metropolitan District No. 1?

Cherry Creek South Metropolitan District #1 (CCSMD#1) is a quasi-governmental corporation and political subdivision of the State of Colorado, organized and acting pursuant to the provisions of the State of Colorado Revised Statutes and is approved by the Town of Parker via an Intergovernmental Agreement.

The purpose of CCSMD#1 is to provide the capability to finance and install improvements for water, sanitation, and storm drainage facilities; parks and recreation facilities; traffic, safety controls and street improvements; street lighting; communication facilities for the residents of the districts as well as the general public. All facilities relating to water, sanitary sewer, storm drainage, streets and safety improvements constructed by the District will be conveyed to the appropriate municipal authority for perpetual ownership and maintenance following a one year warranty period.

Tell me more about how the Cherry Creek South MetropolitanDistrict No. 1 is funded and what it does?

In order to meet its obligation to provide facilities, the Board of Directors for CCSMD#1 authorized the sale of bonds as needed, based upon estimates of growth with the intent of maintaining the lowest tax burden possible.

The bonds issued are general obligation bonds. The District has several sources of revenue with which to pay the principal and interest on the bonds. The sources of revenue are:

• Systems Development Fee - Paid by a builder/developer at the time a building permit is obtained.
  

• Service Charges - Monthly billings to the inhabitants of the District to cover maintenance and operational costs of the District
  

• Tax Revenues - An ad valorem tax levied against all properties within the District. Property values on which this tax is levied is determined on an annual basis, on January 1, by the Douglas County Assessor.
  

• Capitalized Interest and Reserve Fund - Proceeds from the original bond sales which are used to meet the interest payments in the early years of the bond issue, as well as, provide reserve funds to protect bondholders from any shortfalls.

The Board of Directors is the governing body of CCSMD#1 and is permitted by law to administer, operate and maintain all services, facilities, and improvements provided by the District. The Board consists of five directors; each elected by the residents of the District. Elections are held every other year to elect either two or three directors each to a four year term. All property owners or people residing in the District are eligible to vote for the Board of Directors. In order to be elected to the Board of Directors, a person must fist own property in the District.

The Board of Directors is responsible for establishing the fee structure for the various fees charged in the District and for setting the mil levy for ad valorem taxes levied against each property. The district has the power to lien and foreclose on property for the non-payment of fees and taxes.

The District's current service area is approximately 382 acres, but has a potential service area of approximately 2,000 acres. The initial service area can be expanded, as needed, to avoid the piecemeal installation of facilities, as determined by the Board of Directors, by annexing additional portions of the potential service area. The District can not expand beyond the limits of the potential service area unless such expansion is approved by the Town of Parker. The District is also responsible for the maintenance of certain landscaping and roadway right of ways integral to the development of Stroh Ranch.

The District currently owns and operates the 11,000 sq. foot Creekside Recreation Center and the adjacent 8.5 acre Creekside Park for the enjoyment and use of the residents and guests of Stroh Ranch. The Creekside Recreation Center is a $2,000,000 facility with a 25 yard indoor and outdoor pool, 2 racquetball courts, exercise room, all purpose meeting room, men and women shower and locker areas, 2 tennis courts, basketball court, volleyball pit and children's play area.

The Cherry Creek South Metropolitan District #1 maintains the common areas and Recreation Center, so why do we need an Association?